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LayerZero Hits Back at FTX Following Lawsuit Over Previous Commercial Relationship

Over the past year, FTX has filed numerous lawsuits against previous business partners, attempting to claw back funds allegedly spent without justification or in subprime deals. Often, these funds were indeed spent on a whim, whether at networking parties or, presumably, gaming. However, LayerZero’s CEO Bryan Pellegrino argued that this could not be farther from the truth in this case. Multimillion-Dollar Lawsuit In the lawsuit filed on the 8th of September, FTX’s new...

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Alameda Bought Co-CEO Sam Trabucco a Yacht

As part of FTX’s bankruptcy court proceedings, the exchange’s new management has – to the best of their ability – produced a balance sheet containing all expenses filed on behalf of the FTX Group’s C-Suite. Some of these expenses were already known to the public, such as the infamous purchase of Robinhood shares for SBF and Gary Wang. However, some of the expenses listed in the 57-page document have never been revealed before. Purchased Shortly Before His Departure According...

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Former Alameda Engineer Explains How SBF Stole His Savings

A former engineer at Alameda Research has come forward with claims on X that his entire life savings were stolen by Sam Bankman-Fried (SBF), his former boss. Aditya Baradwaj paints a vivid picture of the rise and fall of FTX, exposing the contradictions, grand visions, and heartbreaking consequences that ensued. As an engineer at Alameda Research, I had my entire life savings stolen from me by my former boss: Sam Bankman-Fried. Now, after months of recuperation from the...

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BlockFi’s Disclosure Statement Receives Conditional Approval By US Bankruptcy Court

Bankrupt crypto lender, BlockFi revealed that the US Bankruptcy Court for the District of New Jersey has conditionally approved its disclosure statement. The development essentially demonstrated that the reorganization process of BlockFi continues to make gradual progress eight months after filing the voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code. In an official statement on August 2nd, Mark Renzi – BlockFi’s Chief Restructuring Officer,...

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Caroline Ellison Felt Unsuited To Run Alameda Amid SBF Relationship Drama

Caroline Ellison – former CEO of the fallen crypto trading desk Alameda Research – felt “unhappy and overwhelmed” with her job, and strongly doubted that she was well suited to the role, according to newly leaked excerpts from her online diary. The excerpts shed light on many of her inner thoughts heading preceding FTX’s demise, including her troubled relationship with Sam Bankman-Fried (SBF). Boyfriend Pressure and Imposter Syndrome As reported by The New York Times on...

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K5 Global Sued to Court by FTX, May Pay $700 Million

The suit was filed at the United States Bankruptcy Court for the District of Delaware. Bankrupt FTX exchange has filed a lawsuit against K5 Global – an investment firm owned by a former aide to Hillary Clinton. According to a Reuters report, the suit was filed at the United States Bankruptcy Court for the District of Delaware. It contains 16 counts against the defendants and seeks to recover about $700 million from them. According to the filing, the defendants include K5 Global, Mount...

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US Prosecutors to Reduce Criminal Charges on FTX Founder SBF in October Trial

The DoJ prosecutors have eliminated five charges relating to fraud, conspiracy, and bribery initially levied against the disgraced FTX founder. In a court filing on Wednesday, June 14, prosecutors with the US Department of Justice (DoJ) told the district judge that they would be proceeding with eight charges in the trial levied against FTX founder Sam Bankman-Fried back in December 2022. The DoJ lawyers also cited a motion filed by SBF in the Bahamas wherein he argued that the 13 charges...

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BNB Chain Developers Schedule Hard Fork Dubbed Luban on June 12

The growth of BNB and the underlying chain is largely connected with the ongoing regulatory scrutiny, especially in the United States The BNB Smart Chain (BSC), a leading smart contract blockchain developed by the leading centralized exchange Binance with about $4.45 billion in total value locked, is expected to have a hard fork on its mainnet at block height 29,020,050. Through the current block generation speed, Binance Chain core developers expect the Luban hard fork to take place on...

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